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Selected category: Credit Unions

Considering Credit Unions? 4 Factors to Consider

Credit unions are increasingly pushing into new products and trying to attract more and more members, extending their fields of membership rul... Read →

Not Your Father’s Credit Union: Why It Is Time To Take A New Look At Credit Unions Image Pexels

Not Your Father’s Credit Union: Why It Is Time To Take A New Look At Credit Unions

For years friends and business colleagues have spoken positively about their local credit unions (or major credit unions that they can otherwise access like PenFed, Navy or Alliant).  Many people like to work with a not-for-profit o... Read →

ABA Sues NCUA Over Field of Membership Restrictions

On October 2, 2017, the American Bankers Association (ABA) filed a new brief with a notice of supplemental authority in an ongoing lawsuit against the National Credit Union Administration (NCUA).  The ABA now contends that the NCUA ... Read →

Credit Union Membership Growth Accelerates in Third Quarter

Third quarter 2012 data reported to the National Credit Union Administration (NCUA) shows that credit union membership increased by 742,847 individuals to 93.9 million members.

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Credit Union Assets Top $1 Trillion, Still Small By Bank Standards Image Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Credit Union Assets Top $1 Trillion, Still Small By Bank Standards

Based on first quarter 2012 data, credit unions have maintained their steady historical growth, with the combined assets of all credit unions reaching $1 trillion for the first time. The four largest banks are still larger than the entire credit union movement.

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Credit Unions On a Roll - Hit Record Numbers of Members in 2011 Image Image courtesy of dream designs at FreeDigitalPhotos.net

Credit Unions On a Roll - Hit Record Numbers of Members in 2011

Motivated by higher fees and lower rates at bigger banks, consumers voted with their feet and embraced credit unions. Credit Unions added 1.3 million new customers in 2011, bringing total membership to 91.8 million. That's a record number of credit union members.

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The Difference Between Banks and Credit Unions Image Image courtesy of Stuart Miles at FreeDigitalPhotos.net

The Difference Between Banks and Credit Unions

On the surface, banks and credit unions look very similar. They both take customer deposits in the form of savings accounts, certificates of deposit, and checking accounts. They both also lend money in the form of mortgages, home equity loans, auto loans, and credit cards. They both have branches, electronic banking, and many of the services that facilitate the savings, transfer, and lending of money. But a deeper examination reveals profound differences that impact the rates that you receive as well as the customer service provided to you.

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El Paso Area Teachers Federal Credit Union Offering 3.44% APY 60-Month CD

If you're lucky enough to live in El Paso, then you can become a member of El Paso Area Teachers FCU and open their 3.44% APY 60-Month CD. That's the best 60-month CD in the United States according to the BestCashCow database.

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Wish You Could Join a Credit Union? If You Live in MA or NH, Now You Can Image Image courtesy of franky242 at FreeDigitalPhotos.net

Wish You Could Join a Credit Union? If You Live in MA or NH, Now You Can

Now residents of Massachusetts and New Hampshire can be part of a credit union merely by living in that state, or by working for a company that is based in Massachusetts. Best of all, this particular credit union offers a checking account that allows you to earn up to 2.75% APY on your deposit.

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Bayer Heritage Federal Credit Union Offering 3.56% APY 5-Year CD Image Image courtesy of Feelart at FreeDigitalPhotos.net

Bayer Heritage Federal Credit Union Offering 3.56% APY 5-Year CD

Bayer Heritage Federal Credit Union in Western Virginia is offering a 3.56% APY 60-month CD.

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Navy Federal Credit Union Offering 3% APY 12-Month CD

Navy Federal Credit Union is offering a 1 year CD with a rate of 3% APY. The catch? Read on.

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Navy Federal Credit Union Steps Up to Cover April 15 Pay in Case of Government Shutdown

Navy Federal Credit Union has announced that it will honor scheduled April 15 direct deposit pay for active duty members in the case of a government shutdown.

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Traditional Credit Unions are Offering Extremely Competitive CD Rates

The traditional credit union is actively pursuing members with high rates. Some may be teasers, but offer a high yield nonetheless. While consumers and investors are often lured by the ease of the internet, local institutions have begun to offer competitive rates to compete.

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Wholesale Credit Union System Revamped, Three Wholesale CUs Seized

Regulators just announced a revamping of the nation’s wholesale credit union system. Although customers won’t see an immediate change at their local credit union, some analysts speculate the change could spur higher interest rates on loans and lower interest rates on deposits in the future.

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Fort Knox Credit Union has some of the best CD rates available in the nation, and membership is extremely easy, fast, and free.

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